Portfolio Compression for outstanding IRS trades carried out on 27th Sep '18
On 27th Sep'18, CCIL successfully carried out the 15th cycle of the Portfolio Compression exercise in the Interest Rate Swaps market aimed at reducing the overall notional outstandings and the number of outstanding contracts by identifying economically redundant trades for early termination. 25 large foreign, private and nationalized sector Banks and Primary Dealers participated in this exercise. Of the 16,146 trades between 25 members which were found to be eligible for being considered for compression, 13,611 trades were identified for early termination achieving a compression of over 84.30%. 13,308 trades were terminated fully while 303 trades were partially terminated. A reduction in market-wide Notional Outstanding of Rs. 7,81,715.76 crores will be achieved through this exercise. The compression exercise included both trades cleared by CCIL and non-cleared trades.